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And this is a major reason I'm personally wary about a lot of ideas around putting stuff onto a public blockchain. Once it's there it's never going away. Even
by ziml77 5y ago
And this is a major reason I'm personally wary about a lot of ideas around putting stuff onto a public blockchain. Once it's there it's never going away.
Even just transaction info on a public blockchain is odd to me. It's possible to remain anonymous, but all it takes is one slip-up and then anyone can perform blockchain analysis to trace all sorts of stuff back to me.
- xvector 5y agoWelcome to Monero, where you don't have to think about problems like that because privacy is by default.
- after_care 5y agoOn the other hand, if all currency was on a blockchain it would be possible to perform block chain analysis to determine each individual’s wealth and income making taxes much easier.
- viraptor 5y agoeach account's wealth and income On some blockchains it's easy to map the account to the user, on others it's impossible. There are solutions which are completely secret with regards to transfers, so blockchain doesn't solve the taxes. (a specific blockchain may in theory)
- sokoloff 5y agoYou’d miss the value (and often ownership percentages) of anything illiquid (real estate, privately held companies/partnerships, and trusts). That’s a significant slippage from the dystopian ideal of being able to calculate something that many think is none of your business.